Market Overview
The Vietnam Medical Aesthetics Market reached a size of USD 91.50 Million in 2024 and is forecasted to grow to USD 188.41 Million by 2033. The market will expand at a CAGR of 7.49% during the forecast period from 2025 to 2033. This growth is driven by rising demand for non-invasive and minimally invasive aesthetic treatments, medical tourism expansion, international investments in healthcare, and influences from social media and Korean beauty trends.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Vietnam Medical Aesthetics Market Key Takeaways
- The market size stood at USD 91.50 Million in 2024, with a projected value of USD 188.41 Million by 2033.
- The market is expected to grow at a CAGR of 7.49% during the forecast period of 2025-2033.
- Increasing consumer preference for non-invasive aesthetic procedures that offer natural results with minimal downtime.
- Strong adoption of treatments like Botox, dermal fillers, laser skin resurfacing, and radiofrequency therapies in urban centers such as Hanoi and Ho Chi Minh City.
- Vietnam is becoming a leading medical tourism destination for aesthetic procedures, supported by government policies and international healthcare investments.
- Social media and Korean beauty trends significantly influence consumer behavior and clinic offerings.
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Market Growth Factors
The growing interest in non-invasive and minimally invasive beauty treatments is a major driver in the Vietnam Medical Aesthetics Market. Customers favor treatments with tangible results, performed without surgery, with shorter recovery periods. Well-accepted treatments like Botox injection treatments, filler treatments, laser-based skin resurfacing, radiofrequency treatments, and chemical peels have been widely accepted, especially in Hanoi and Ho Chi Minh City. Young working class people favor convenience, taking treatments during lunch hours or weekends, which has fueled the growth of this market. HIFU (High-Intensity Focused Ultrasound) technologies like Thermage and Ultherapy Prime have been effective in skin tightening with the help of non-surgical processes.
The medical tourism sector is progressing quite quickly in Vietnam, as far as medical aesthetics is concerned. Foreign patients are drawn by the availability of first-rate treatments at affordable costs, as well as Vietnam’s cultural heritage. The Vietnamese government is facilitating increased business by exempting visas, simplifying health care regulations, as well as advertising modern facilities and specialists. In 2024, Thomson Medical Group’s purchase of FV Hospital, worth USD 381.4 Million, points towards massive foreign investment. Large hospital networks now provide additional services with top-level international accreditations, making Vietnam a prime destination for aesthetic medical services in Southeast Asia.
Social media and Korean beauty trends are major factors that have influenced the consumer behaviors in Vietnam. The products used in aesthetic education, procedure demonstrations, and influencer marketing include Instagram, TikTok, Facebook, and Zalo. The demand generated by Korean beauty trends targets constituents such as double eyelid, V-line jaw contour, rhinoplasty, and skin whitening. The clinics use Korean surgical methods where they employ Korean-trained surgeons to cater to the demand. Online promotional activities diminish stigma levels, thereby improving the attitude towards aesthetic products as part of personal care practices, especially among millennials and Gen Z.
Market Segmentation
Product Insights:
- Facial Aesthetics: Includes treatments focused on enhancing facial appearance aligned with consumer preferences.
- Body Contouring: Procedures designed to reshape body areas and improve physical contour.
- Cosmetic Implants: Use of implants to enhance aesthetic appeal in various body parts.
- Physician-Dispensed Cosmeceuticals: Medically prescribed aesthetic skincare products dispensed by physicians.
- Skin Aesthetics: Treatments targeting overall skin health and appearance improvement.
Procedure Type Insights:
- Invasive Procedures: Surgical and other interventions involving penetration of the skin or body.
- Non-Invasive Procedures: Techniques that do not require surgery, including injectables and laser treatments.
Regional Insights
The Vietnam medical aesthetics market is segmented into Northern Vietnam, Central Vietnam, and Southern Vietnam. The report does not specify the dominant region or relevant statistics explicitly; hence regional dominance and market share details are not provided.
Recent Developments & News
In January 2024, Thomson Medical Group completed the acquisition of FV Hospital in Ho Chi Minh City for USD 381.4 Million, marking the largest healthcare merger in Southeast Asia since 2020. Thomson Medical Group aims to leverage FV Hospital’s position in Vietnam’s expanding medical aesthetics market to deliver internationally recognized services. Major hospital systems are broadening their aesthetic medicine services across various locations and have earned prestigious accreditations including JCI, ACC, and CAP, enhancing trust and quality assurance.
Key Players
- Thomson Medical Group
- FV Hospital
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